War in Yemen Continues

Airstrikes by the Saudi-led coalition bombed the Yemeni capital of Sanaa early today, killing 14.

The bombing effectively was the resumption of heavy bombardment by the Saudi-led alliance targeting Yemen’s Shiite rebels and allied forces loyal to Yemen’s ousted president.

The resumption comes after U.N. peace talks on Yemen collapsed over the weekend in Kuwait.

The airstrikes also signal the end of a fragile truce declared by the United Nations in April to pave the way for peace talks.

The conflict in Yemen pits the internationally-recognized government of Abed Rabbo Mansour Hadi and his allies, backed by the Saudi-led coalition of Arab states, against Shiite rebels known as Houthis who overran and captured Sanaa in September 2014.

Since the Saudi-led coalition launched airstrikes against the Houthis, the war has claimed 9,000 lives, displaced some 2.4 million people and pushed the Arab world’s already impoverished country to the verge of famine.

The bombing of is one of series of airstrikes that rocked the capital and at least five other provinces, presumably targeting suspected rebel positions such as barracks housing Houthis and their allies, ousted President Ali Abdullah Saleh’s forces.

Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.